The following was originally published October 13, 2011 at http://yellowjacketpersonalfinanceteacher.blogspot.com/2011/10/new-banking-fees.html
After watching the news and reading article upon article about the new fees being introduced to customers of the large corporate banks I have come to the conclusion that I may need to either change banks or begin looking toward alternate means of accessing my money. I'm very upset with the idea that I will be charged for using a debit card to access MY money I earned, however I think for money management purposes this might help all of us out. Think about how many times you just "swipe" your debit card and don't even realize how much money you spend throughout the day or week? Possibly people would begin using cash and this might help us to become more conscious about our spending.
I know that I personally will begin to set aside X amount of dollars each day to spend on certain items. ie. helps with my budget!
The issue I'm discussing here is not is if they are fair or should the banks be able to do this, rather is this going to help Americans become better, efficient and just more conscious spenders.
Of course there will be stipulations if you use cash, this quote comes from USA today Money:
Be careful, though. Frequent withdrawals from an unfriendly ATM could cost you even more than using your debit card. The average surcharge for using an out-of-network ATM is $2.40, up from $2.33 in 2010, according to Bankrate.com's annual checking account survey. That's on top of your own bank's surcharge, which averaged $1.40 in 2011, according to Bankrate.
After watching the news and reading article upon article about the new fees being introduced to customers of the large corporate banks I have come to the conclusion that I may need to either change banks or begin looking toward alternate means of accessing my money. I'm very upset with the idea that I will be charged for using a debit card to access MY money I earned, however I think for money management purposes this might help all of us out. Think about how many times you just "swipe" your debit card and don't even realize how much money you spend throughout the day or week? Possibly people would begin using cash and this might help us to become more conscious about our spending.
I know that I personally will begin to set aside X amount of dollars each day to spend on certain items. ie. helps with my budget!
The issue I'm discussing here is not is if they are fair or should the banks be able to do this, rather is this going to help Americans become better, efficient and just more conscious spenders.
Of course there will be stipulations if you use cash, this quote comes from USA today Money: